Transforming the field of accountancy

The call for a new path for the profession
of accountancy is strong and echoed across the country and globally. Valuing
history but actively working to make sure that the future of the profession is
inclusive and diverse and that’s what the University of Johannesburg (UJ) is working
hard to bring about. The first South African Accounting History Centre was
started by UJ in order to record the history of accountancy in South Africa and
to endorse the social responsibility that comes with accountancy which is the
ability to advise clients and offer assurance.

In 2008, UJ also made strides when they
appointed their first black CA (SA) lecturer, Lyndsay Maseko and since his
appointment Maseko has gone on to lecture in all four accountancy disciplines
and has commented that UJ has given him the opportunity to challenge himself
and explore all aspects of his interests.

Other than his
lecturer position, Maseko also obtained a master’s degree in computer auditing;
he is a shareholder, director and lecturer at APT, serves as the audit
committee chairman of Safika Resources (Pty) Ltd. “I’m not in this for accolades. I’m in it to
change lives,” Maseko said. He sees his position as unique as he has been given
the chance to nurture, encourage and mould the next generation of accountants.
And that in and of itself is UJ’s aim, to create a space and culture that is
inclusive for those who were previously disadvantaged so that they might be
encouraged to pursue their dreams and contribute towards creating a better
South Africa.

Research has shown that UJ remains the
biggest residential university contributor to successful black African
Chartered Accountants (CAs) in South Africa and the lowest difference in
success rates between black Africans and white passes compared to other South
African universities.

Each year accounting students across South
Africa take the Initial Test of Competence (ITC) of the South African Institute
of Chartered Accountants’ (SAICA). The results of the January 2016 ITC which
was released in March revealed that University of Johannesburg student, Zahir
Mayet obtained the first position in South Africa. Professor Alex van der Watt, the Head of the
Department of Accountancy has commented on the ITC results by saying that it
helped to confirm the University of Johannesburg’s role in transforming the
profession of accounting. He said “there can be no argument that performance
against transformation indicators has become the most important yardstick when
evaluating the performance of universities in the ITC.”

The University of Johannesburg takes many
factors into account when measuring the success rate of the ITC results such as
the amount of successful candidates at UJ compared to other universities, the
pass rate of first time writers of the examination and the difference in the
pass rate between UJ students from previously advantaged and disadvantaged
backgrounds and the percentage in the gap between them and other
universities.

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